SoFi Stock Rises 5.27% in Two Days as Technical Indicators Signal Bullish Momentum

SoFi Technologies (SOFI) advanced 2.48% in the latest session, marking its second consecutive daily gain with a cumulative 5.27% rally over this period, reinforcing a short-term bullish sentiment.
Candlestick Theory
Recent candlestick patterns highlight constructive price action. The July 2–3 sessions formed a bullish continuation pattern following a brief retracement on July 1, which itself appeared as a temporary consolidation candle after a robust 6.00% advance on June 30. Key support emerges near $16.00–$16.25, validated by multiple tests in late June, while resistance converges around the $18.92 annual high (June 30 peak). A decisive close above $18.92 could signal renewed upside momentum. The formation of higher lows since late June underscores underlying demand.
Moving Average Theory
The moving average configuration remains bullish. The 50-day MA (approximately $14.30) and 100-day MA (~$13.80) both slope upward beneath the price, confirming a medium-term uptrend. Crucially, the 50-day crossed above the 200-day MA (approximately $12.90) in Q2 2025, establishing a "golden cross" with long-term bullish implications. Recent closes consistently above the shorter-term MAs reflect persistent buying pressure. Confluence exists as the 50-day aligns with the Fibonacci 38.2% retracement level ($14.04), reinforcing $14.00 as critical support.
MACD & KDJ Indicators
The MACD histogram shows bullish momentum expansion. Since mid-June, the MACD line has sustained above its signal line, with July’s uptick accelerating the divergence—a sign of strengthening upward impulse. Meanwhile, KDJ oscillators exited overbought territory (K >80 in late June) during the July 1 dip but rebounded sharply, with K and D turning upward from neutral levels (~50) on July 2–3. This suggests renewed momentum without excessive overbought exhaustion. No bearish divergence is evident.
Bollinger Bands
Bollinger Band dynamics signal heightened volatility. The June 30 breakout above $18.00 accompanied a pronounced band expansion, reflecting strong directional conviction. Prices have since hovered near the upper band, indicating sustained bullish control, while the 20-day MA ($17.60) acts as dynamic support. Although not currently constricted, any band contraction from current levels could precede another volatility surge.
Volume-Price Relationship
Volume validation is mixed but leans constructive. The June 30 rally registered the year’s highest volume (149M shares), confirming institutional participation. However, follow-through volume on July 2–3 (67M and 45M shares, respectively) was comparatively lighter, introducing caution about near-term stamina. Accumulation patterns remain intact, though sustained advances above $18.50 warrant volume expansion to confirm breakout legitimacy.
Relative Strength Index (RSI)
The 14-day RSI reads ~68 as of July 3, retreating from overbought territory (peak of 78 on June 30) but holding firmly in bullish bias. While moderating from extremes, the lack of a decisive breakdown below 60 supports positive momentum. Traders should note RSI values above 70 are common in strong trends, though clustering near 70 may precede minor pullbacks.
Fibonacci Retracement
Applying Fibonacci to the 2024 low ($6.15) and 2025 high ($18.92) reveals pivotal levels. The 23.6% retracement at $15.91 proved instrumental in late June, serving as the launchpad for the current rally. The 38.2% level aligns with the 100-day MA at $14.04, creating a major support confluence. Should retracements occur, $14.00 remains critical. Conversely, a breach above $18.92 projects a Fibonacci extension toward the 127.2% level ($21.50).
Confluence and Caveats
Strong confluence exists at $14.00–$14.30 (50-day MA, 38.2% Fibonacci, and 100-day MA), defining a major support floor. Bullish momentum is affirmed by MACD expansion and KDJ rebounds, alongside price/MAA alignment. However, negative volume divergence at recent highs and RSI proximity to overbought territory advise vigilance. A breakdown below $17.00 could trigger profit-taking toward $15.91. Overall, the technical structure favors continuation if SOFI sustains above $18.00, supported by broad-based indicator agreement.